The value of all cryptocurrencies combined has increased to a great extent and the number of its users in a way one can compare them with top companies of the world. And because of their increased magnitude over the years, the financial sector can no longer overlook them.
Mining cryptocurrency is the process by which new cryptocurrencies are created and added to the trading market. So when miners validate and commit a transaction to the blockchain, they are rewarded with some of the coins created.
Pi Network (PI) is an example of this and according to the people who developed PI, it is the first cryptocurrency that can be mined using an app on your mobile device.
Some qualities and benefits can be discerned in particular cryptocurrencies, and these qualities can make such cryptocurrencies desirable to a wide variety of people that trade in cryptocurrencies. This article will act as a guide on how you can mine Pi on your phone. Read on!
Do You Think Mining Pi Is A Ponzi Scheme?
There is no fraudulent intent behind Pi. It is a genuine attempt made by a team of Stanford graduates to provide regular people with wider access to cryptocurrency. This program makes it easy to contribute to the Pi community and earn PI by doing simple and direct tasks. The developers may have promised the world, but making a withdrawal is currently impossible.
Pi Mining’s biggest feature is that it can run in the background while you use other programs and you can only mine coins every 24 hours while connected to the network. Also, you are free to close the program and disconnect at any moment, isn’t that amazing?
How To Mine Pi Using The App
Below are step-by-step instructions on how to mine Pi on your device, before we continue make sure all your information given during registration is correct because your account will be verified.
Step 1: To start, the very first thing: Install the Pi Network app on your device click here. Android and iOS are the two different operating systems that Pi Network presently supports. Therefore, if you want to mine easily, you should get the application from Google Play for Android or the App Store for iOS.
Step 2: You may sign up using either your phone number or an existing Facebook account. However, picking an active and valid phone number will make Pi Network account verification much simpler.
Step 3: To set up your password, all that is required of you is to enter the password and then confirm the password. After you have completed it, you can submit your input by clicking the “Submit” button.
Step 4: Fill in your profile details. Make certain that you provide your true name. Enter your first name, your last name, and your login when required to do so.
After you have finished filling out all of the information, click the Submit button to proceed to the next and final stage.
Step 5: Enter the referral code which in this case is Edumags. Note, you must use a referral code to join and start mining.
Step 6: You are now officially a member of the group. You have successfully finished registering for the Pi Network. After clicking the Get Started button, you will be presented with the image shown above. Click the bolt button to begin mining Pi.
In the total column on the top of your screen, you can see how much Pi you’ve mined thus far. Visiting the application daily will verify that you are a human and not a machine. Within 24 hours, the crypto will be credited, but mining on the Pi Network will need to be restarted.
To mine Pi on a smartphone, you don’t need any special device or a lot of battery power to run the app. The overarching goal is to establish a platform where regular people can participate in the growth of digital currency through mining.
Don’t forget to leave your questions below if you have any.